Spearmint Energy Adds Senior Talent

Strengthens Capabilities Across Project Finance, Capital Markets, Regulatory Affairs, and Commercial Operations

Spearmint Energy (“Spearmint” or the “Company”), a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced the addition of four senior hires who bring a diverse mix of project finance, capital markets, regulatory affairs, and commercial operations experience to Spearmint’s growing team.

Spearmint’s recent hires include:

• Michael Gray, Managing Director of Project Finance – Mr. Gray is a seasoned finance professional with significant experience originating, structuring, and executing renewable energy tax equity investments and complex structured finance transactions. Previously, he held positions in the Strategic Transactions Group at Barclays Bank PLC and Transaction Services Department at Deloitte.
• Rafia Merchant, Managing Director of Capital Markets – Ms. Merchant has more than two decades of experience working in the energy and commodities finance industry, including across debt capital markets, energy trading and structured derivatives, and project and structured finance. She has held roles at ENGIE North America Inc., New York Power Authority, BNP Paribas, Macquarie, and JPMorgan.
• Jack Clark III, Director of Regulatory – ERCOT & SPP – Mr. Clark brings more than 20 years of regulated and non-regulated energy industry operations experience to Spearmint. He most recently worked at NextEra Energy Resources, where he supported regulatory and legislative affairs with a focus on ERCOT and SPP ISOs.
• Omar Longou, Director of Commercial Operations – Mr. Longou has deep experience in renewable energy engineering, most recently leading a team of engineers focused on technical project management at Siemens Gamesa. He previously served in various engineering and technical project management roles at the same company.

Andrew Waranch, Founder, President, and Chief Executive Officer of Spearmint, said, “We are pleased to continue to scale the Spearmint team with exceptional talent and strengthen our capabilities across project finance, capital markets, regulatory affairs, and commercial operations. Michael, Rafia, Jack, and Omar bring a diverse mix of skillsets and perspectives to Spearmint that we believe will benefit our platform and its impact on the clean energy revolution. As we continue to grow our national project pipeline, we are excited to attract professionals of their caliber and look forward to their contributions for years to come.”

These senior hires follow the commencement of commercial operations of Revolution, Spearmint’s inaugural 150 MW, 300MWh battery energy storage system project in West Texas, and associated securing of project financing, including a $47.5 million term loan from Manulife and a $200 million term loan from Aiga Capital Partners and Nuveen.

About Spearmint Energy

Spearmint Energy (“Spearmint” or the “Company”) is a next-generation renewable energy company enabling the clean energy revolution through battery energy storage systems (“BESS”). Spearmint develops, installs, owns, operates, and optimizes BESS with the aim of reducing grid volatility, increasing system resiliency, and minimizing carbon emissions in a responsible and efficient manner. As of Q2 2024, the Company operates a 150MW/300 MWh BESS project in West Texas, and has more than 20 projects, totaling over 10 GWh of capacity, under development in 10+ states across 4 U.S. regions. Headquartered in Miami, with an additional office in Minneapolis, Spearmint employs over 40 professionals and strives to be the preeminent green merchant energy company. For more information, please visit: https://www.spearmintenergy.com/

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